A site of regular dimensions improved with an
obsolete and vacant 155,568 square foot office
building.
The highest and best use for the property was
unclear and needed to be tested in the market
place.

What We Have LearnedThe successful sale was the result of an aggressive marketing program offering the market a dual
development option: a residential conversion option or a full redevelopment option. Multiple offers were
generated in both development scenarios. The 155,568 square foot office building was ultimately torndown
to be replaced with a 183 unit residential condominium project. A density participation formula was
negotiated to maximize the final price.

Reference“…Now that we’ve successfully completed the sale of our former Canadian Headquarters Facility at 123
Eglinton Avenue East in Toronto, I want to express to you my appreciation for the excellent job you did
guiding us through this complicated transaction. Your patience and expertise through some difficult
moments during the negotiations were a sign of true professionalism…”